Weld County’s second largest oil, gas producer plans more layoffs

Noble Energy, which is the second-largest oil and gas producer in Weld County, reports that come November it will reduce the companyâs workforce yet again. There were two layoffs last year that amounted to a total of 45 employees lost from the Greeley operations out of hundreds of other layoffs throughout the country.

Oilfield layoffs

This year, several oilfield employees have been laid off as the industry continues to struggle with a global downturn. Here’s a rundown of layoffs affecting company operations in Colorado:

2016

» Sanjel — 101 employees in Weld County; 54 in Denver.

» Anadarko Petroleum — 1,000 (the company didn’t provide a breakdown for local layoffs)

» Noble Energy — 45 employees

» DCP Midstream — 15 in Weld; 65 in Colorado out of (300 total)

2015

» Bayou Well Services — 250 employees in Weld

» WPX Energy — 142 employees in Denver

» Linn Energy — 52 in Denver

» Newfield Exploration Company — 91 employees in Denver.

» Baker Hughes — 141 in Adams County

» Fidelity Exploration and Production Company — 106 employees in Denver

Noble Energy is going for a third round of layoffs as it continues to wait out the industry downturn, but the effects may not hit Weld County as hard as other areas.

The Houston-based energy company, which is the second-largest oil and gas producer in Weld County, reports that come November it will reduce the company's workforce yet again. There were two layoffs last year that amounted to a total of 45 employees lost from the Greeley operations out of hundreds of other layoffs throughout the country.

According to a prepared company statement:

"Noble Energy continues to focus its human and capital resources to reflect anticipated activity levels and the ongoing price environment while preserving long-term opportunities. As a result, we will streamline and focus our exploration and geo-science capabilities on increasing our onshore U.S. value and high-grading our offshore exploration inventory and opportunities. Limited workforce reductions will take place before the end of the year.

"We remain committed to supporting those impacted through this transition."

Officials would not provide any detail beyond the statement.

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A company earnings release in August revealed a bit more of a commitment to Weld County operations. The company stated it was working to consolidate its efforts on its onshore operations in two pet areas in the United States — Weld County and Texas. In the company's second-quarter earnings news release, the company reported it planned to put 80 percent of its global capital budget — about $400 million to $450 million in the third quarter — this year in those two areas. The plan for both areas was to run two drilling rigs in each area through the end of the year.

The company has already sold assets it held in Montana and Greeley to raise some cash in the downturn. The Greeley Crescent assets were mostly vertical wells in a 33,100-acre area. The profits from asset sales this year were reported at $775 million in July. Companies have been selling assets in areas in which they have less interest. Noble has concentrated its drilling efforts in Weld County just northeast of Greeley in the Wells Ranch area and an area in northeastern Weld called East Pony.

The company's first round of layoffs came in April 2015, when it laid off 20 employees at its northern Colorado operations, the headquarters of which are located at Promontory in west Greeley. Another 200 were laid off from other areas across the country in which it operates.

Last November, the company shaved another 25 from its Greeley workforce, part of a 180-employee layoff, including 45 in Denver.

Oilfield layoffs

This year, several oilfield employees have been laid off as the industry continues to struggle with a global downturn. Here’s a rundown of layoffs affecting company operations in Colorado:

2016

» Sanjel — 101 employees in Weld County; 54 in Denver.

» Anadarko Petroleum — 1,000 (the company didn’t provide a breakdown for local layoffs)

» Noble Energy — 45 employees

» DCP Midstream — 15 in Weld; 65 in Colorado out of (300 total)

2015

» Bayou Well Services — 250 employees in Weld

» WPX Energy — 142 employees in Denver

» Linn Energy — 52 in Denver

» Newfield Exploration Company — 91 employees in Denver.

» Baker Hughes — 141 in Adams County

» Fidelity Exploration and Production Company — 106 employees in Denver